Buying and Investing Job Summit 12 13 November

Buying and Investing Job Summit 12 -13 November 2015

1 PREPAY SOLUTIONS ▌ 2000 - Inception as Splash Plastic (B 2 C), renamed Pre. Pay Technologies (B 2 B) in 2001, changed commercial name to Pre. Pay Solutions in 2009 § Program managing and processing prepay cards (gift, payment, expenses…) § £ 3 bn business volume (2015), 150 people, HQ London, Datacenter Swindon § Operating in 24 countries ▌ £ 10 m total equity raised in 2000, 2003 and 2005 from London Business School, GE Capital, Arts Alliance, Upfront Ventures, Link Interchange Network ▌ 2007 - Sold £ 52 m to French group Accor ▌ 2009 - Turn into a JV (70/30) with Mastercard 2

2 BUYING AND INVESTING Point of view of an entrepreneur: Philippe Dufour ▌ “French”, 26 years in B 2 B (pharmaceuticals, IT financing, IT engineering, Management Consulting, Consumer Benefits) in New Zealand, Australia, USA, UK and France ▌ London Business School MBA (FT 1998) ▌ Set up Pre. Pay Technologies in 2000 (now Pre. Pay Solutions) and sold it in 2007/2009 to French group Accor Services, now Edenred ▌ Now: § SVP Alternative Investments, member of the Edenred group EXCO § Founding Partner in Edenred Capital Partners, the Corporate Venture arm of Edenred § Advisor and investor in various companies § Board member in 5 companies ▌ Passionate about “Supporting” 3

5 TIPS ON BUILDING A BUSINESS 4

1 RAISE MORE THAN YOU NEED IN OUT 3 rd fundraising 2 nd fundraising 07/07/2000 FTSE 6400 25/09/2007 FTSE 6450 5

1 RAISE MORE THAN YOU NEED “We invest £ 1 m in your company if you raise £ 6 m instead of £ 5 m” GE Capital – April 2000 -1 st pivot Launch of Debenhams 6

2 AIM FOR BRAND ASSOCIATION ORGANISATIONS 7

2 AIM FOR BRAND ASSOCIATION ORGANISATIONS PEOPLE (NED) § MD of Barclaycard Emerging Markets § Former Chairman of Barclaycard § Former CEO Europe of EMI Music § Former CFO of Carrefour 8

3 INVEST IN PEOPLE are the asset § Aim for the best people but don’t set them for failure § Build a team, align them collectively on the upside § Don’t hesitate to change, even the closest collaborators and…If you have a doubt, you have no doubt 9

4 PIVOT OR DIE In the digital economy, TIME factor is even more critical $ Before the 90’s/digital economy: § Time was less critical § Business were more protected § The market could slowly adapt Inflexion unknown TIME Today in digital economy: § Pivot until you get to inflexion § Adapt to the market § Competition is watching…and copying 10

5 BE PASSIONATE, NOT BLIND § “BELIEVE”, IF YOU DON’T, WHO WILL? § BE PARANOID, THINK ABOUT MURPHY’S LAW § LEARN FROM MISTAKES § DEFINE YOUR OWN SUCCESS 11

3 EDENRED AT A GLANCE World leader in prepaid corporate services € 18 bn Issue Volume 660, 000 € 1. 03 bn Clients Revenue 41 m 6, 000 Beneficiaries Employees 1. 4 m 42 Affiliates Pays 12

4 EDENRED CAPITAL PARTNERS Organisation Philippe Dufour Norbert Furnion Florian Denys Director, Edenred Capital Partners Analyst, Edenred Capital Partners SVP, Alternative Investments, Edenred SA 2 Offices Investment in Minority stake from € 250 k to € 5 m 13

5 EDENRED CAPITAL PARTNERS Corporate Venture Arm of Edenred Group OBJECTIVES SECTORS ▌ Foster innovation internally ▌ Develop new sources of revenue ▌ Disruptive business models around Edenred core business § Employee Benefits § Expense Management § Incentive & Rewards § Fin. Tech INVESTMENT CRITERIA ▌ Team ▌ Market ▌ Maturity ▌ Deal Structure § HR/Recruitment Tech EDENRED CAPITAL PARTNERS IS A FINANCIAL INVESTOR SUPPORTED BY AN INDUSTRIAL BUT IS NOT AN INDUSTRIAL BRINGING FINANCING 14

6 INVESTING IN HR TECHNOLOGY A market in the spotlight INVESTMENT RATIONALE Fundraising ~ $35 M ▌ Large and growing market ▌ Innovation and Big Data analytics Last: $27 M in Sept-15 ~ $93 M Last: $45 M in June-15 ▌ Scalability ▌ Globalisation ▌ Strong M&A activity ~ $56 M Last: $25 M in Oct-14 ~ $53 M Last: $28 M in Oct-15 ~ $63 M Last: $63 M in Aug-14 15

7 FOCUS ON CANDIDATE ENGAGEMENT TECHNOLOGIES Managing relationships with active and passive candidates Engagement Technologies CRM Candidates RELATIONSHIPS ATS HRIS SOURCING / MARKETING 16

8 FOCUS ON HR TECH T R E A T C A N D I D A T E S Overview L I K E C U S T O M E R S Investment Rationale ▌ Beamery provides candidate engagement software ▌ Manage relationships with active and passive that combines a smart Recruiting CRM powered by machine intelligence with advanced recruitment marketing technology candidates is a growing point of interest in the recruitment value chain ▌ Their software helps companies Attract, Convert and Engage the best talent by treating candidates like customers § Candidate engagement technologies are the hot new space (also called Talent Pools, Talent Communities and Candidate CRM) ▌ One of the most innovative segment in the Human Capital Management 17

8 FOCUS ON HR TECH V I D E O - L E D T E C H N O L O G Y A N D H R S A A S - B A S E D D A T A A N A L Y T I C S Overview ▌ Launch. Pad is bringing the power of data-driven decisions to HR through its video platform ▌ Initially a video online interviewing solution, Launch. Pad is leveraging data to identify and remove bias from the entire employment cycle ▌ 140+ clients, including many global groups Investment Rationale ▌ The HR ecosystem has evolved and generates huge volumes of disconnected data § 9% of companies use predictive analytics to inform workforce decisions ▌ Greater use of data promises a revolution in the way HR decisions are made § Organisations making data-driven and unbiased people decisions will achieve superior sustained performance ▌ Video interviewing is a good entry point 18